Market News

Midday cash livestock markets

Direct cash cattle trade activity remains quiet, typical for a Tuesday.  Bids and asking prices have yet to surface.  Showlists are mixed – about steady in Nebraska/Colorado, but lower in Kansas and Texas.  It’s likely significant trade volume will hold out until the latter half of the week.

At the Joplin Regional Stockyards in Missouri, compared to last week, feeder steers were steady to $8 lower.  Feeder heifers were $5 lower to $5 higher.  The USDA says supply was heavy with good demand.  Quality was off from last week’s offering, and this week included a lot of unweaned and non-vaccinated calves.  Receipts were up on the week and the year.  Feeder supply included 63 percent steers and 55 percent of the offering was more than 600 pounds.  Medium and Large 1 feeder steers 550 to 582 pounds brought $375 to $407 and feeder steers 807 to 848 pounds brought $289.75 to $299.  Medium and Large 1 feeder heifers 550 to 594 pounds brought $320 to $347.50 and feeder heifers 704 to 723 pounds brought $280 to $309. 

Boxed beef was sharply higher and higher at midday with very good demand for light offerings.  Choice is $5.63 higher at $360.44 and Select was $1.01 higher at $345.12.  The Choice/Select spread is $15.32. 

Cash hogs were lower at midday with fairly light negotiated purchases.  Processors are off to a lackluster start to the day, but that could pick up as they work to move needed numbers.   The industry continues to monitor demand both on the global market and domestically.  Any significant changes could push prices in either direction.  The industry continues to monitor any movement with China.  While tariffs were paused, it could take some time before the country begins to ramp up its purchases.  The industry remains optimistic that domestic demand could see a boost as the summer grilling season is just around the corner. Barrows and gilts at the National Daily Direct were $.40 lower with a base range of $90 to $97 and a weighted average of $94.51.  Prices at the Regional Direct Markets were not reported due to confidentiality. 

Butcher hog prices at the Midwest cash markets are steady at $66. At Illinois, slaughter sow prices were steady with moderate demand for moderate offerings at $47 to $59.  Barrows and gilts were steady with moderate demand for moderate offerings at $54 to $64.  Boars ranged from $25 to $35 and $18 to $25. 

Pork values were lower at midday – down $.53 at $100.56.  Loins, picnics, bellies, and butts were lower.  Hams and ribs were higher.